Circle Stock Soars Over 500% After IPO, Fueled by Stablecoin Momentum
Circle Internet Group’s stock (CRCL) has skyrocketed over 530% since its June 5 IPO, closing at $199.59 on Wednesday — a 33.8% gain from its daily open. The surge follows Senate approval of the GENIUS Act, which aims to regulate stablecoins and has boosted investor confidence in the sector. Circle, issuer of USDC, now benefits from growing institutional interest and broader adoption, including support from Ripple’s XRP Ledger and Coinbase Derivatives. The rally may signal strong market appetite for crypto firms, as competitors like Gemini and Kraken eye IPOs later this year. (The Block)
DeFi Lending Hits Record $55B TVL as Aave, Maple, and Morpho Surge
DeFi lending protocols have reached an all-time high of $55.69 billion in total value locked (TVL), led by Aave v3’s explosive 55% growth over two months to $26.09 billion. Maple Finance and Morpho Blue are also gaining traction, with Maple’s TVL jumping 417% due to its innovative real-world asset lending model and Morpho rising 38% year-to-date. This surge reflects growing demand for tokenized credit and DeFi-native lending alternatives, with token prices like AAVE and SYRUP significantly outperforming the broader crypto market. The rise marks a new phase of institutional and real-world integration into DeFi infrastructure. (The Block)
Amazon and Google Now Operate 45% of Bitcoin Lightning Network Nodes
Amazon and Google have become dominant players in Bitcoin's Lightning Network infrastructure, operating nearly 45% of all nodes—an indication of deepening big tech investment in crypto payments. The Lightning Network has grown to over 16,000 nodes in 2025, driven by rising demand for fast, low-cost Bitcoin transactions. Experts suggest that falling blockchain fees and the recent GENIUS Act may pave the way for broader adoption by enterprises and even governments. With Amazon alone powering nearly 30% of nodes, speculation is mounting about potential Bitcoin payment integration on its platform. (Be in Crypto)
Thailand Grants Crypto Capital Gains Tax Exemption Through 2029 to Boost Digital Asset Hub Goals
Thailand has approved a capital gains tax exemption on cryptocurrency transactions until the end of 2029, aiming to strengthen its position as a global digital asset hub. The exemption applies to crypto trades conducted through licensed platforms regulated under the country's 2018 Digital Asset Business Decree. Officials expect the move to enhance market transparency, attract foreign investment, and support Thai innovation, while also generating over $30 million in tax revenue. This policy follows earlier tax relief efforts and signals Thailand’s commitment to a balanced, crypto-friendly regulatory framework. (Blockhead)
Elon Musk’s X to Launch Investment & Trading Features in Bid to Become ‘Everything App’
Elon Musk’s X platform will soon introduce investment and trading tools, aiming to merge financial services with social media under its "everything app" vision. According to CEO Linda Yaccarino, the rollout includes X Money, a peer-to-peer digital wallet developed in partnership with Visa, enabling users to store funds, pay, tip, and invest—all within the app. The service will debut in the U.S. and could later include X-branded payment cards. This financial push follows a broader strategy to evolve X into a full-scale commerce and information ecosystem. (Crypto Briefing)
China to Launch Digital Yuan International Hub in Shanghai Amid Global CBDC Race
China’s central bank will open an international operations center for its digital yuan (e-CNY) in Shanghai, aiming to boost global adoption and strengthen cross-border payment infrastructure. PBOC Governor Pan Gongsheng acknowledged the transformative role of stablecoins and blockchain in reshaping payments, while warning of insufficient global regulatory coordination. The new center will focus on international market development and align with China’s broader digital finance ambitions, including blockchain-based trade finance and Belt and Road funding tools. The move comes just after the U.S. Senate passed the GENIUS Act, highlighting growing international momentum around digital currency frameworks. (Blockhead)
Ohio House Passes Pro-Crypto Bill With $200 Tax Exemption for Bitcoin Users
The Ohio House has approved the Blockchain Basics Act, a bill offering a $200 capital gains tax exemption for crypto transactions and protecting the use of self-hosted wallets and digital assets. It also safeguards residential and industrial crypto mining from restrictive local zoning and exempts crypto participants from certain state-level securities and money transmitter laws. If signed into law, Ohio would become one of the first U.S. states with a comprehensive rights-based framework for crypto users and businesses. Advocates call the bill a "commonsense" step toward national leadership in blockchain innovation. (Decrypt)
